Is $ $ 5000 monthly enough to live by per month?

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Vidatrix
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Is $ $ 5000 monthly enough to live by per month?

Post by Vidatrix » Sun, 30 Jun 2013 7:03 pm

Hello all,

I am moving to Singapore in a few days. The amount I put up is AFTER rent, utilities, internet and mobile have already been paid ( total monthly salary : $ 8500 ).

Is this enough to live by in Singapore every month?

My spending habits are balanced. I eat everyday at home as I can cook very healthy, gourmet cuisine. I only eat out at fancy restaurants at least 2 - 4 times a month. I tend to go to a bar once every week. I also like to shop decently ( for example : $ 50 - $ 100 for a decent pair of clothing is ok but anything beyond that may be pushing it, unless the items are shoes ). I like to travel abroad 2 times a year. So in other words, fairly balanced with my spending.

Judging from the information ( sorry if it might not be enough ), can I live comfortably well with $ 5000 SGD ( Remember : This $ 5000 amount is AFTER all the bills have already been paid as my total monthly pay is around $ 8500 ).

Any advice is greatly appreciated!

Thank you

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Post by Hannieroo » Sun, 30 Jun 2013 7:06 pm

Easily. I reckon you could live quite well and still save half of that every month.

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Post by katbh » Sun, 30 Jun 2013 7:12 pm

+1. More than ample, especially if you are single. You could eat out every night on this.

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Post by Vidatrix » Sun, 30 Jun 2013 7:12 pm

Thank you very much for responding :) I was reading a lot of articles and talking to a few friends ( who have lived and worked in Singapore ) and they always gave me mixed answers and opinions. But basically, the answers veered more towards the " Singapore is very expensive ".

Do you know of the median salary of most Singaporeans for the following groups :
a) Foreign workers ( unskilled workers, migrants etc )
b) Foreign workers ( skilled, business, finance, education etc )

Basically, I make around $ 105, 000 SGD. Would this be a median for foreigners?

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Post by Vidatrix » Sun, 30 Jun 2013 7:15 pm

katbh wrote:+1. More than ample, especially if you are single. You could eat out every night on this.
I am a single professional. No familial obligations ( spouse / partner, children, pets etc ). I am shocked though that the rental prices are excruciatingly high. I managed to find a decent condo with all the amenities that I need ( gym, pool ) bc I train everyday for 1/3 of my salary.
Last edited by Vidatrix on Sun, 30 Jun 2013 7:28 pm, edited 1 time in total.

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Post by sundaymorningstaple » Sun, 30 Jun 2013 7:22 pm

Sounds about right. You should do okay and like an above poster said, you should be able to save half of that if not more, frankly speaking.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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Post by Hannieroo » Sun, 30 Jun 2013 7:56 pm

Our money is overseas and we only bring in what we use. So, average food, entertainment etc for a family of 4 with a dog is around 3.5k for us. I don't skimp on toiletries, booze, cleaning products or food, we run a motorbike and do a fair few activities and eat out at least twice a week. I'm sure if we added in travel and clothes it would add up to 5k a month but again, that's for a family.

I find no matter where you live accommodation is usually the biggest hit. But here seems to be not that more expensive than the UK. A night out with a meal and a taxi costs the same but is distributed differently.

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Post by Vidatrix » Sun, 30 Jun 2013 7:59 pm

Hannieroo wrote:Our money is overseas and we only bring in what we use. So, average food, entertainment etc for a family of 4 with a dog is around 3.5k for us. I don't skimp on toiletries, booze, cleaning products or food, we run a motorbike and do a fair few activities and eat out at least twice a week. I'm sure if we added in travel and clothes it would add up to 5k a month but again, that's for a family.

I find no matter where you live accommodation is usually the biggest hit. But here seems to be not that more expensive than the UK. A night out with a meal and a taxi costs the same but is distributed differently.
Wow! This is highly encouraging! :) A family of four, plus dog, at 3.5 K is pretty impressive. I have read a few posts on other forums and of course, opinions from friends, acquaintances, strangers about living in Singapore and they seem to say that $ 3 K is ok for a single person, which made me think about the expense of living in Singapore.

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Post by Hannieroo » Sun, 30 Jun 2013 8:06 pm

Do you think? I've never been known for my saving ways so I'd be surprised.

I cook from scratch when we eat home and I'm a big believer in eating what's available locally because otherwise life is just frustrating. If I included my hair, school trips, new wardrobes etc then it would be more but not stuff you have to pay for. Lego is really bloody expensive.

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Post by zzm9980 » Mon, 01 Jul 2013 2:46 pm

The biggest expenses here for foreigners is roughly:

1) Housing - $2.5k-$25k a month, likely 3.5-5k range for an average unit.
2) School fees for children - ~$3k per child per month? +/- 20% based on the school, discount for additional kids, but always going up.
3) Personal vehicles - $1k-$2k per month for an average non-luxury/non-performance vehicle. On the low end, $1k is something like a 1.3 liter Honda Fit/Jazz. Thats cost per month, road tax, insurance, not counting petrol, parking, ERP (tolls).

If you have those three covered or they're not applicable, $5k is plenty of money for someone single. You could blow through it every month, but you'd have to make a pretty decent effort. Based on my lifestyle when I was single( mid 20s male from California), I would estimate going I would use ~$2000 SGD a month at the very most for eating out every night (mix of cheap/hawker food and moderate sit downs), coffee (I drink a lot, ~$15sgd a day now), and moderate drinking once or twice a week.

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Post by the lynx » Mon, 01 Jul 2013 3:03 pm

OP should be doing fine. That $5k is definitely more than enough and he can even save half of that!

http://www.numbeo.com/cost-of-living/

In case OP needs an idea.

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Post by Vidatrix » Sun, 07 Jul 2013 9:28 am

zzm9980 wrote:The biggest expenses here for foreigners is roughly:

1) Housing - $2.5k-$25k a month, likely 3.5-5k range for an average unit.
2) School fees for children - ~$3k per child per month? +/- 20% based on the school, discount for additional kids, but always going up.
3) Personal vehicles - $1k-$2k per month for an average non-luxury/non-performance vehicle. On the low end, $1k is something like a 1.3 liter Honda Fit/Jazz. Thats cost per month, road tax, insurance, not counting petrol, parking, ERP (tolls).

If you have those three covered or they're not applicable, $5k is plenty of money for someone single. You could blow through it every month, but you'd have to make a pretty decent effort. Based on my lifestyle when I was single( mid 20s male from California), I would estimate going I would use ~$2000 SGD a month at the very most for eating out every night (mix of cheap/hawker food and moderate sit downs), coffee (I drink a lot, ~$15sgd a day now), and moderate drinking once or twice a week.
Ah, thank you for your input. Judging from most of the replies on here, it is actually much more encouraging than I thought.
a) My rent is $ 2850 per month for a rather large, nice 2-bedroom condo with complete amenities -> Covered by employment.
b) No school fees ( No children, unmarried, single )
c) No car fees ( I don't drive as I enjoy cycling, running and work is fairly close )

So the $ 5000 is just for my pocket, so to speak ( this is the amount AFTER I have also paid utilities, internet, mobile phone and one monthly bill in my home country ).

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Post by Wen_XY » Sun, 07 Jul 2013 10:35 pm

Vidatrix wrote:
katbh wrote:+1. More than ample, especially if you are single. You could eat out every night on this.
I am a single professional. No familial obligations ( spouse / partner, children, pets etc ). I am shocked though that the rental prices are excruciatingly high. I managed to find a decent condo with all the amenities that I need ( gym, pool ) bc I train everyday for 1/3 of my salary.
It really depends on how simple of an accommodation you're willing live in; I have a number of Filipino colleagues that spend approximately $300 on rental.

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Post by kooltilldend » Sun, 07 Jul 2013 10:50 pm

You'll do fine

The average earnings here are probably close to 4k (and that's excluding all the bills)

The biggest expenses here imo are food and rental - so if you got that sorted and still have 5k, you can live like a king (well sort of)

I dunno if you party much but even if you do, you should still have significant savings...in short, have fun!

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Post by SSkumar » Wed, 24 Jul 2013 6:41 pm

Hi Vidatrix
Good to know abt you. Can you help me with the area where u got this condo.. I m looking for the same ..in similar budget. thanks ..
cheers

Vidatrix wrote:
zzm9980 wrote:The biggest expenses here for foreigners is roughly:

1) Housing - $2.5k-$25k a month, likely 3.5-5k range for an average unit.
2) School fees for children - ~$3k per child per month? +/- 20% based on the school, discount for additional kids, but always going up.
3) Personal vehicles - $1k-$2k per month for an average non-luxury/non-performance vehicle. On the low end, $1k is something like a 1.3 liter Honda Fit/Jazz. Thats cost per month, road tax, insurance, not counting petrol, parking, ERP (tolls).

If you have those three covered or they're not applicable, $5k is plenty of money for someone single. You could blow through it every month, but you'd have to make a pretty decent effort. Based on my lifestyle when I was single( mid 20s male from California), I would estimate going I would use ~$2000 SGD a month at the very most for eating out every night (mix of cheap/hawker food and moderate sit downs), coffee (I drink a lot, ~$15sgd a day now), and moderate drinking once or twice a week.
Ah, thank you for your input. Judging from most of the replies on here, it is actually much more encouraging than I thought.
a) My rent is $ 2850 per month for a rather large, nice 2-bedroom condo with complete amenities -> Covered by employment.
b) No school fees ( No children, unmarried, single )
c) No car fees ( I don't drive as I enjoy cycling, running and work is fairly close )

So the $ 5000 is just for my pocket, so to speak ( this is the amount AFTER I have also paid utilities, internet, mobile phone and one monthly bill in my home country ).

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